Common use of Limitation on Voting of Preferred Stock Clause in Contracts

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock ("Preferred Stock") of the Depositor in trust, for the benefit of the Noteholders and the Insurer, and shall vote such stock only pursuant to the written instructions of the Insurer (so long as no Insurer Default has occurred and is continuing) or the Majority Noteholder (so long as an Insurer Default has occurred and is continuing). The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HFC or any of its Affiliates. Concurrently with any transfer of the Home Equity Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock ("Preferred Stock") of the Depositor in trust, for the benefit of the Noteholders and the Insurer, and and, during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Insurer (so long as no Insurer Default has occurred and is continuing) or the Majority Noteholder (so long as an Insurer Default has occurred and is continuing). The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HFC or any of its Affiliates. Concurrently with any transfer retransfer of the Home Equity Loans to the Master Servicer pursuant to Section 8.017.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock ("Preferred Stock") of the Depositor in trust, for the benefit of the Class A Noteholders [and the Insurer], and and, during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of [the Insurer (so long as no Insurer Default has occurred and is continuing) or and] Holders of Class A Notes evidencing not less than 51% of the Majority Noteholder (so long as an Insurer Default has occurred and is continuing)Class A Note Principal Amount. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HFC or any of its Affiliates. Concurrently with any transfer retransfer of the Home Equity Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.